10 Mktx 04-Blurb

U.S. automakers blast Trump’s UK trade deal– japantoday.com

pgnewser May 9, 2025

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The Trump administration’s latest trade deal with Britain unfairly penalizes U.S. automakers that have partnered with Canada and Mexico, a trade group representing Detroit automakers said Thursday.

In a sharply-worded statement, the American Automotive Policy Council (AAPC) said the U.S.-UK trade deal “hurts American automakers, suppliers, and auto workers,” according to the group’s president Matt Blunt.

The deal unveiled Thursday between U.S. President Donald Trump and British Prime Minister Keir Starmer lowers the tariff on British vehicles to 10 percent from 27.5 percent on the first 100,000 cars shipped from Britain to the United States.

China Sales To US Drop Amid Donald Trump’s Tariffs War– www.ndtv.com

pgnewser May 9, 2025

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China said Friday sales to the United States slumped last month while its total exports topped forecasts, as Beijing fought a gruelling trade war with its superpower rival.

Trade between the world’s two largest economies has nearly skidded to a halt since US President Donald Trump imposed various rounds of levies on China that began as retaliation for Beijing’s alleged role in a devastating fentanyl crisis.

Tariffs on many Chinese products now reach as high as 145 percent — with cumulative duties on some goods soaring to a staggering 245 percent.

Beijing has responded with 125 percent tariffs on imports of US goods, along with other measures targeting American firms.

Trump drops Israel ties in talks with Saudi Arabia – report– en.globes.co.il

pgnewser May 9, 2025

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US President Donald Trump has foregone the condition originally set in negotiations with Saudi Arabia, and is prepared to discuss cooperation on a Saudi civilian nuclear project even without normalization of the country’s relations with Israel, according to a report by Reuters today.

The previous US president, Joe Biden, made expansion of the Abraham Accords to include Saudi recognition of Israel a condition for nuclear cooperation.

Trump administration may half 145% China tariff to 50% next week: Report– timesofindia.indiatimes.com

pgnewser May 9, 2025

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The Trump administration is considering cutting the steep 145% tariff on Chinese imports by more than half, possibly as early as next week, as US and Chinese officials gear up for high-level trade talks in Switzerland,

The New York Post

reported, citing sources close to the negotiations.US officials are reportedly weighing a reduction of the levy to somewhere between 50% and 54%, a move aimed at easing tensions as trade negotiations unfold.

The EU seeks to halt Russian gas imports by the end of 2027 and ban new contracts already this year– financialpost.com

pgnewser May 6, 2025

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The EU says it has cut gas imports from 45% to 19%, and oil from 27% to 3%, of its prewar levels. But that still makes it Russia’s biggest gas client, with pipelines in operation across the Black Sea, Belarus, and Turkey, according to the Energy and Clean Air think tank.

US trade deficit surges to record high in March– www.channelnewsasia.com

pgnewser May 6, 2025

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WASHINGTON: The US trade deficit widened to a record high in March as businesses boosted imports of goods ahead of tariffs, which dragged gross domestic product into negative terrain in the first quarter for the first time in three years.

The trade gap jumped 14 per cent to a record US$140.5 billion from a revised US$123.2 billion in February, the Commerce Department’s Bureau of Economic Analysis (BEA) said on Tuesday (May 6).

Economists polled by Reuters had forecast the trade deficit rising to US$137.0 billion from the previously reported US$122.7 billion in February.

President Donald Trump’s sweeping tariffs, including raising duties on Chinese imports to a staggering 145 per cent, fueled a rush by businesses to bring in merchandise to avoid higher costs.

Trump to Meet with Prime Minister of Canada › American Greatness– amgreatness.com

pgnewser May 6, 2025

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Excerpt:

Good Tuesday morning.

Here is what’s on President Trump’s agenda today:

11:30am THE PRESIDENT greets the Prime Minister of Canada

11:45am: THE PRESIDENT participates in a Bilateral Meeting with the Prime Minister of Canada

12:15pm: THE PRESIDENT participates in a Bilateral Lunch with the Prime Minister of Canada

3:30pm: THE PRESIDENT participates in a FIFA Task Force Meeting

5pm: THE PRESIDENT participates in a Swearing-In Ceremony for the Assistant to the President, Senior Advisor and Special Envoy

BREAKING: (Japanese) Government Openly Threatens to Use $1 Trillion in U.S. Treasuries as Leverage in Trade Talks– conservativeroof.com

pgnewser May 6, 2025

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A Japanese official issued a veiled threat amid trade talks with the Trump administration, then said the threat was merely a hypothetical conversation.

As with most foreign countries that do business with the United States, Japan has been in talks with Trump administration officials after President Donald Trump announced tariffs on imports. Some have called the tariffs a disaster for Japan.

On Friday, Japan’s finance minister said that Japan’s status as the largest holder of Treasury securities could be a tool in the talks, in what the Financial Times called a “rare baring of teeth by America’s closest ally in Asia.”

Finance Minister Katsunobu Kato was asked whether Japan would continue to hold its position of not selling its Treasury notes. The U.S. Treasury issues notes to cover the cost of borrowing to keep the country operating.

U.S. Lending $5 Billion To An American Natural Gas Competitor– thefederalist.com

pgnewser April 22, 2025

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The Export-Import Bank recently approved a $5 billion loan to French energy company TotalEnergy to build a liquefied natural gas (LNG) pipeline in Mozambique. An American organization is funding America’s economic competition, contradicting its mission and President Donald Trump’s plans to support U.S.-based businesses.

Ex-Im was established in 1934 via an executive order by Franklin D. Roosevelt as an independent executive agency with the purported goal of supporting American jobs by facilitating the export of U.S. goods and services.

Alaska Gov. Mike Dunleavy just wrapped up a trip to Asia to secure contracts for Alaska’s LNG industry and the construction of its new pipeline. U.S. Energy Secretary Chris Wright is authorizing LNG expansion nationwide. At the same time, Ex-Im is funding a direct competitor. Why? How?